FAP Turbo robot review - 4 BROKERAGES AT ONCE

[Ken Long]

The eurgbp has been the big loser this month. I havent altered the position size, its still at 10% along with the usdcad and gbpchf, whereas the eurchf runs at 20%, but I am much more diligent about checking the trades, and manualy managing trades when they move in the wrong direction. This is the only thing I've found that seems to work with this EA, or any trading system. And even so, I've had to take losses that were larger than what I think was necessary for the trades.

Just anouther one of the pitfalls in trusting a computer program to do too much for you. They're great tools, but they're not particularly good at thinking, or making any decisions they're not explicitly programed for.

[Proupin]

Originally Posted by rsmereka

Proupin, can you please add your FAP Turbo settings to your trading journal so we can analyze the adjustments you made. The adjustments I make to my live and demo accounts are always in post #1 of my trading journal and they are updated every time I make a change before trading begins using those settings.

I have updated the journal with my current settings. What's a V45 Pro?

regards

[rsmereka]

Originally Posted by Proupin

I have updated the journal with my current settings. What's a V45 Pro?

regards

Version 45 Pro is the version of FAP Turbo that allows you to change most settings like trading hours, stop loss and take profit.

Rick

[Ken Long]

Originally Posted by Proupin

What's a V45 Pro?

Where did you get your copy of FAP-T??

[pipdetector]

The assumption behind FAPT is that it is scalping during the low volume/low activity hours. Also the back testing is done with the same assumption and it shows "great" results. BUT... there is one factor that did not exist for most of the time that backtesting is done (until Nov 2008) -- FAPT itself.

Note that FAPT is supposed to be active during the low volume/low activity periods, but due to its popularity it added ca 40000 potential retail buyer/sellers to the equation. What's more all these people are zeroed in on just a couple of currency pairs and become active at more or less the same time (nothwithsanding the randomness of entries)...

Why is FAPT limited to these currencies only? The authors claim that they singled out the pairs that are optimal, but why not give us a choice to find it out on our own -- at least in the PRO versions -- if they really want to protect all the users who feel better off with the canned goods...

[Ken Long]

Bingo, FAP-T was a great idea, but it seems to be its own worst enemy. The fact that its flooding low liquidity pairs with multitudes of identical orders, during the slowest time of day is counter productive. On a demo account or in backtesting this is easy to do, but I dont know how they survive in the real world. I really wouldnt blame any broker for targeting them and delaying orders or manipulating the spread .

In most cases that I 've seen, the spreads on FAP-T's pairs during trading hours are wider than FAP-T's TP levels. In most cases where the spreads are narrow, they are usually variable spreads and 5 digit quotes. If you watch these they remain stable untill FAP-T starts trading, and then they jump at the slightest hint of trading volume. Its amusing to watch them double and shrink, over and over as systems try to place trades.

Even an ECN broker will have trouble serving this bot. They require a matching offer on the other side, and when everyone submitts identical orders at the same time, they cant all be filled.

[cstrade]

I have had a few losers lately that have been out of the allowed trading hours. Shouldnt it close orders before 1 gmt.

Ive come home from work and had these big losing trades that mostly they look like they will rebound and when they do fapt still closes trades in a loss.

It seems to be making small gains then will have a trade open out of hours that will make a large loss???

[pipdetector]

FAPT leaves the losing postions until they hit stoploss or comeback in green, this sometimes happens outside its standard trading hours.

[Ken Long]

Originally Posted by cstrade

I have had a few losers lately that have been out of the allowed trading hours. Shouldnt it close orders before 1 gmt.

Ive come home from work and had these big losing trades that mostly they look like they will rebound and when they do fapt still closes trades in a loss.

It seems to be making small gains then will have a trade open out of hours that will make a large loss???

FAP-T had some nasty losses last month. Mostly on the eurgbp. In all cases these losses were held open well past 1gmt. The time settings only control when it opens trades.

The 1gmt stop on trading now seems a little late. Many losses are opened in the final hour of trading. Changing it hasnt completely prevented the problems, but it seems to skip some of the losses. All I've done is to keep my gmt set where it was before daylight savings time. This essentialy sets it an hour earlier. Trading an hour earlier doesnt seem to be a problem, when this robot first came out it traded from 19:00-01:00, two hours earlier than it does now. I may set it up anouther hour earlier, just to see if it can avoid some more of these losses. Either that or simply cut back on an hour of trading using the pro version.

[testpilot84]

I had the same problem. I had stopped trading eurgbp and gbpchf because they were both big losers over the last month and kept eurchf and usdcad. I then opened up the LRR to 20 to 30 just in time to suffer 3 losses in 3 days at about 10-15% each. All of these losses were as you described.....out of the hours....hit the stoploss. FAPT does a good job keeping the LRR at 5 for both of these. Slow and steady does well. Since I went back to 5, I have regained 5% in just a couple of days. Interestingly, as you have all described, opening the LRR just seems to increase the size of the potential loss. The gains I had were not spectacular....but the losses sure were. I got a little greedy, but then I was only risking a $250 account, so.....lesson learned.